Charming Shoppes CEO Resigns
Bensalem, Pa. Charming Shoppes Inc. said Wednesday its president and CEO, Dorrit J. Bern, is resigning, effective immediately, and that it will take a charge in the second quarter related to her employment contract.
The company said its chairman, Alan Rosskamm, will serve as CEO on an interim basis. Rosskamm was formerly the chairman and CEO of Jo-Ann Stores Inc.
The company said it has formed a special committee to search for a permanent CEO.
The retailer also said it expects to record an after-tax charge of between $5 million and $6 million in the second quarter related to Bern’s employment agreement.
Rosskamm said the board and Bern “agreed that now is the appropriate time for a change in leadership of the company.”
Charming Shoppes also said Brian P. Woolf, former chairman and CEO of apparel retailer Cache Inc., has been appointed president of the Lane Bryant brand. He will succeed LuAnn Via.
Via resigned to become president and CEO of Payless Source Inc., a division of Collective Brands Inc.
Collective Brands said Via will replace Matthew Rubel, who is chairman and CEO of the company.
Wachovia names head of food and beverage investments
CHARLOTTE, N.C. Chris Morris has joined Wachovia Securities as managing director and head of food and beverage investment banking. He will report to John Hudson, managing director and head of consumer and health care investment banking.
Morris has 20 years of investment banking experience and joins Wachovia from Lehman Brothers, where he most recently served as managing director and global head of food and beverage investment banking.
Hooker Furniture names gm of Opus Designs
MARTINSVILLE, Va. Hooker Furniture has named Bruce Cohenour to the new position of general manager of Opus Designs.
Cohenour joined Hooker in a new senior management position of senior vp of national accounts and business development in March 2007. He will handle his new responsibilities for Opus in addition to his ongoing role in business development of national accounts.